Company announces implementation of Kingdee enterprise accounting system across its US & China-based operations
TUSTIN, Calif., Jan. 29 /PRNewswire-FirstCall/ -- AMDL, Inc. (NYSE Alternext US: ADL), a vertically integrated pharmaceutical company with operations in China and the US, announced today it is implementing a state-of-the-art, westernized enterprise accounting system across its US and China-based operations.
Developed by China-based Kingdee International Software, the new accounting system runs on a high-speed, point-to-point dedicated server system to completely streamline end-to-end accounting practices, financial reporting, taxation, corporate governance and controls to deliver real-time financials. The accounting system has already been implemented in AMDL's US-based headquarters and implementation across the Company's China-based pharmaceutical operations underway.
Over the past four years AMDL has seen over 100% year-over-year growth and anticipates continuing this trend for fiscal year 2009 where it is once again forecasting at least 100% sales growth. Management's decision to implement the new Kingdee accounting system is an instrumental part of the Company's plan to increase financial transparency, manage and run all operations on a real time basis, based on best business practices and standards.
According to AMDL's Chairman and CEO, Mr. Douglas MacLellan, "This implementation represents Kingdee's first US technology deployment, making AMDL the only China-based, US publicly-traded Company to operationalize an accounting system that meets the demanding and rigorous requirements of US GAAP-certified accounting standards. We took a very cost-effective and diligent approach in choosing Kingdee and we believe the system gives AMDL internal controls financially and operationally over our Chinese company publicly listed on a US exchange."
With more th
|SOURCE AMDL, Inc.|
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